and anybody in scotland r.b.s. is already here in the city of london and they are engaging in what the banks on the city of london do are b.s. lloyds barclays and the other one h.s.b.c. h.s.b.c. and others four or sort of the banking apocalypse they're already committing there are who wants them why would scotland loan r.b.s. royal bank of scotland i mean it's a joke it's like these bankers threatening to go to switzerland if they're if they're if any regulations are imposed on them just go we can drive you to the airport just get out well it could be you know psyops them for pretending that they might want it in scotland so that vince cable for example is like yeah we'll take r.b.s. here and stuff the english voters and taxpayers with all those mammoth amounts of debts we don't know what the black hole that's you know there hasn't been an actual day of reckoning yet and the global financial system we don't actually know how

many fraudulent debts there are but the other thing is alex salmon with his vote for independence what he thinks the scottish people should do is stay in a sterling union keep the british pound and the bank of england the bank of england would continue to be the lender of last resort to scottish financial institutions other central banks would be tapped as well if need be quote banks receive lender of last resort facilities from across the world and it is normal for countries to act in a coordinated way to secure financial stability the blueprint that alex semin wrote says for example the r.b.s. we were barclays received significant liquidity support from the us federal reserve at the height of the financial crisis with independence like this who needs servitude out samas economically illiterate and well it goes back to this idea of r.b.s. and who would want r.b.s. and they have an enormous amount of debt on their books but of course of the banking world debts are considered as. it's. assets to the extent that they are

constantly in need of refinancing by the likes of the central banks and out someone makes another boner of a mistake here by saying while the such a banks of the lender of last resort now the central banks are the buyer of bad debt first order that they not they're no longer functioning as they were designed to be a cushion they're now operating as the primary instigator in a fraud or a ponzi scheme and just to repeat on this point a little bit the income that is associated with servicing the bad debt in the city of london yes r.b.s. is an asset because it's the enormously over indebted insolvent institution that has no real justification to be allowed to continue to put that into context royal bank of scotland assets are one point one trillion dollars out salman thinks that they d.d.p. of an independent scotland for the first year would be two hundred forty five

billion so they say the assets are one point one trillion of r.b.s. and therefore they wouldn't be able to bail it out but the thing is like why would you want to be part of the city why would you want to be beholden to the bank of england you'd end up being like greece to you know the u.k. germany because the fraud all comes from here so you're never going to why why not . just put the whole nation on the block jane set up the parameters everybody agreed to the parameters have a fair launch of a nation where everybody has a say and knows exactly what because they can look at the public ledger to see what is expected and who knows what this is what i'm slim is doing a group at iceland is creating a crypto currency the aurora coin and they're pretty mining and distributing well you know like now i don't think that's true because as an individual i think this is a nation here they go september eighteenth every single scot goes to the poll they're voting if they vote for independence they get independent if you're saying it's not

independents because they don't have it in a pet a banking system they're beholden to the bank of england and they're going to treat r.b.s. as an asset when it's in fact a huge liability it's not what alex simon wants is another layer of bureaucracy so that he can get a salary and a bunch of bureaucrats and good salaries does not independence independence would mean you have your own bank your own currency and. there's not as she described it he's not talking about independence he's talking about independence and having a real job that's it alex ahmed yeah but i want to bring it back to this notion of a block max because here you know they're they're almost out of north sea oil so they're going have to compete as a small nation of five million people equal to norway and singapore they're going to compete with singapore because they're almost out of oil right so they have to go into financial services financial services is we were at the end game of that why compete with that why join the bank of england why fight for r.b.s. why not start from the beginning because we have a new financial system out there we have a new payment system we have a new currency grid we have a new potential to be the very first crypto nation they can put it all on to the

blocks and they could put the vote they could put the political elections they could put the banking system they could put everything they can put their legal system on the block to so that there is it's it's fraud free economy it's a fraud free political system that's something new that's something that people want to be involved in and going back to my iceland kind of example there so people in nicely. individuals in iceland one individual yeah want to create a roar a coin which is pretty minor distributed to the entire population of iceland to give them a stake in this new crypto economy also have a look oh to try in america is creating them as a coin which is a coin a crypt a coin dedicated to that nation who's been the subject of all kinds of transgressions over the three hundred years so why not scotland get in on the krypto ground floor and be part of the twenty first century and build an economy on the block chain as you have it out with a more than just the currency more than just a sterling more than whatever they might want to call it robert the bruce coin who

knows but i'm saying like the actual legal system the actual political system the actual postal system the actual contractual system all that stuff on the block chain so there is none of this well most people don't understand that behind a group those currency is something called the block chain which is the accounting system the public ledger as it's called to make sure that all transactions are fully transparent and completely up to speed so you're saying is that another application for that is you can take all your legal documents that all of your founding documents and all of your. bureaucratic constitution sees the constitution as well and you can embed them onto the public ledger yeah and you could have a head start on developing an economy that would be extremely. light in terms of bureaucracy of course alex ahman is a pro bureaucracy you say you're arguing you couldn't you couldn't give an argument that he would be more against it because alex thomas probe your ocracy the more bureaucracy the better the block chain is or

a crypto currency is the less bureaucracy the better the two are diametrically opposed right now alexander wants to maintain his relationship with the bank of england and rely on the bank of england to be the lender of last resort so i want to turn to this headline about the bank of england yet again in the news for their role in participating enabling and abetting corruption bank of england. said to have condoned currency traders conduct bank of england officials told currency traders it wasn't improper to share impending customer orders with counterparts had other firms a practice at the heart of a widening probe into alleged market manipulation according to a person who has seen no it's turned over to regulators this is regarding an april two thousand and twelve meeting by some four ex traders and the bank of england and apparently the notes taken were suggesting that the bank of england said it was ok for them to basically manipulate and you know front line and legally trade on insider information but well this is what i'm saying about the central banks now

they started off as quote lenders of last resort which means they have a somewhat arms like the relationship with the banks that they're service saying and if need they can come in and provide liquidity on an ad hoc basis but that's no longer the case now they as we pointed out here the bank of england because they are the enablers and facilitators of first order in massive bank fraud not only do they provide this cheap money that is stolen essentially from savers but they also engage in market manipulation forex manipulation library manipulation as was pointed out a year ago when the or eighteen months ago in a libel or scandal broke it was clear that the bank of england under mervyn king was participating in fraud in the library scandal and i remember going on b.b.c. and making this declarative statement unequivocally that bank of england is involved in libel or fraud and of course the other panelists are saying no that's impossible how can you say such

a thing now the proof comes out yes bank of england is involved in library fraud for extra energy market fraud bank fraud r.b.s. fraud ages b.c. fraud the courts are involved and all these frauds actually they bring this up in this article because as you say the bank of england was allegedly involved i think as paul tucker at that point had said to me he had suggested that these banks that they did this in order to make it look at. healthier they system look healthier here now they say that traders representing some of the world's biggest banks told officials at the meeting in april twenty eighth that they shared information about aggregate orders before currency benchmarks were set three people with knowledge of the discussion said the official said there wasn't a policy on such communications on the banks should make their own rules according to the people the notes could drag the u.k. central bank into another market rigging scandal two years after was criticised by lawmakers for failing to act on warnings that libel was vulnerable to abuse now of course because the bank of england's role in this scandal as well which is a bigger scandal than library because libraries are three hundred and eighty

trillion dollars market for x. is a five trillion per day market so here they're the regulators the top officials of the financial system the monetary system are involved in manipulating money the value of money so or at least condoning it so of course they're going to get out get out of jail free card this is called problem of moral hazard when you don't prosecute fraud in the banking system it's an open invitation to double down and increase more fraud because bank of england was never prosecuted for their lives or rigging two years ago they decided to double down and get involved in forestry gang and of course there's no prosecution now they'll get involved in some other make more money for a scandalous market reading going forward if there's no deterrent if there's no prosecution if there's no rule of law then there's no reason why mark carney should have baby the law and should engage in more massive fraud but he wasn't there i don't think when the when this thing happened but the thing is that there is

measuring and punishment it's not there mervyn king was there but he inherits mervyn king's mass did he come out and say the new governor of the bank of england by the way mervyn king committed fraud we want to clean up the fraud to do what iceland did get rid of the bankers that are committing fraud no and this is what i scotland should do with their independence. very haven't well we got to go find some of the. states over this i don't have a whole lot more. i would like it to see any sort of call to revolution preserving maybe even a charcoal gender roles the islamic religion this is one very powerful counterforce the wards maintaining traditional marriages and values just as they become more powerful western liberalism becomes powerful and we have

to the sort of major civilizations currently on a collision course. or look. it was a. very hard to take on. once again long there was a flat out lie that we ever had sex with that there are no please. please. please. please.

please please. please . do we speak your language or not a day of. news programs and documentaries in spanish more matters to you breaking news a little turn to angles couldn't stories. you hear. them try all teach spanish find out more visit. welcome back to the kaiser report max kaiser time out of time the daleks as the are

there of life after the state is most recent piece published at the end of planned it is called why an end abandoned scotland could become the richest country on earth by the back of the kaiser black very much max pleasure to be here great great title why in a better scotland could become the richest country on earth talk about well when i was writing my book i was never no end of research and i one of the things i research is which are the richest nations in the world on a per capita basis and every year the i.m.f. and the cia and the world bank each publish a list of those countries this is measured on a per capita g.d.p. per capita basis adjusted for currency p.p.p. adjusted and in first place cats are in second place is luxembourg and then you have the likes of switzerland norway singapore hong kong if that counts the countries on that list and so on now some of these come through no is another one now some of these countries have got rich because of their oil but in that case why

isn't saudi arabia on the list or why isn't russia on the list of venezuela saudi arabia by the way is twenty eighth so some of these countries are good because their oil some of the countries are going on the list because they have favorable legislation regulation which means people are they want to base themselves there or operate out of there they're very tax friendly and but these are all legislative and regulatory options that are available to other countries in the world they just haven't been adopted but the one thing all those countries on that list having common is that they're small. they all have populations i think singapore is sorry switzerland is seven or eight million apart from the all the other countries on the list below five million with the exception of the united states which is in about seventh or eighth position the un states obviously large but once upon a time the nine hundred fifty nine hundred seventy united states top that list and . as its state has grown and its government has become more centralized in the

nineteen fifties in the seventy's the states were more thomas the individual states i mean its money was independent it was tied to gold but as it centralized its money to government coming off the gold standard and its state has grown everything from more centralized the united states has slid down it is all heading to garland and somewhere i said yes i'm sorry err waiting for that point. at first i didn't know nothing so here's the point. scotland has the oil it's small its population is just less than five million and it has the same record it has the opportunity to install the same regulator in ledgers legislative to take those same options that say i deny singapore or whatever switzerland has the opportunity to enact that same that it has an opportunity now to follow that blueprint. no other country in the world has the triple the oil the regulatory options and the fact that it's small

and if you look at the tradition in scotland sort of talk over you it's got a long tradition number the only person in history and it's as if that be the it's got it has a huge history in finance and banking and so you know if. it's got the triple ok so a cut or cut are we alistair about they have a huge g.d.p. per capita because there are a lot of oil wells that are something like one hundred thousand euros per person or something norway as well norway wants to break down for what scotland i don't know i don't know what oil barrels per person are and it doesn't have the same amount of oil that norway does and the proceeds of that oil have been blown and they have been invested in the way the norway invested them but there is still oil there but this would seem like a great pitch to the people of scotland like hey you could have the highest g.d.p. per capita in the world how come that's not being it seems like out some in iran scholar saying like we could become the most mangled bureaucracy in the world is more bureaucracy they want to keep the pound they want to keep the bank of england

they fly create a bunch of bureaucratic jobs keeping the pound is the dumbest decision that scotland will make it will it will be exactly the same dynamic that southern europe the greece faces you have interest rates set in westminster that suit london in england in the same way that interest rates and said in brussels that suit germany and then in the process greece or spain have been absolutely annihilated by that and the same thing could happen to scotland if it's going to be independent be independent don't do this kind of third way but so i don't get how they can i. well the going to if they vote for independence under the current scheme is going to be worse than ever i think so if they vote for independence under genuinely independent they have to learn to live off their tax base as well that's another key factor you know they've got this enormous back there royal bank of scotland they threaten to leave but would that be great for something that can happen the model here is iceland iceland is the country that let its banks go bust and that's what we should have done in my opinion get rid of all that fraud but you know the mother nature has a very effective regulator in school bankruptcy. and you know i

mean forget r.b.s. the other opportunity about the pound is is it's pretty obvious to anyone that's used crypto currency whether it's big corn or whatever currency it is it's pretty obvious that the technology of electronic cash is infinitely superior to that you know it's just totally freeze up exchange and commerce and so on i see my i.b.s. that that is the way that money is going so here is scotland with the opportunity to be the trailblazer in the first government to issue its own cryptocurrency you will iceland's already doing that now but you know it's so obvious i just can't see why they don't see it yeah well talk about currency because your next book in fact is going to be about bitcoin in the history of bitcoin your first book the the life after the state of course was crowd funded so you're using alternative financial mechanisms and now you've got your net your next book which is on bitcoin which i believe there's another chapter a huge chapter in there on max cawing massive it's even bigger than the chat room

going well you thirty year ago that we should create it all for free competing currencies and i suggest to you the car is a dollar and you've you've changed it to the max course to max klein and it's a raging success huge market cap is exploding people are using it and it's making a huge run up the crypto charts but getting back to scotland for a second i mean of course i would love them to use the max time because maxwell my middle name comes from. my castle which i one point my clan ran and here's another aren't bank of england was founded by scott well adam smith was . bad enough both yes they have it in their bones evidence of history so when we look at the city states of italy they that the city states of italy produce some of the great individuals that ever lived and then after unification in the nineteenth century it's nice just been a disaster of infighting in europe crecy in matthew income or whatever you like scotland when it was kind of semi autonomous in the nineteenth century produced

some of the greatest people that ever lived adam smith adam smith was earlier but you know look at the scottish contribution to two invention for example james watt bed you know amazing person after amazing person and the scottish contribution to mankind in the in the second of the twentieth century hasn't been on the same scale and it's because he's been burdened with this state and it needs to free itself you cannot doubt the talent of the scottish people but they need the right environment in which to thrive and that is independent not only of the u.k. but independent of a burdensome overwhelming oppressive state you know you mentioned iceland and it's an individual with a nice starting the aurora cawing and they're going to play mine and distribute it really against the government wishes they're taking in another. so it's a bit of a revolution and took up the revolution in america the lakota nation you know the indians american indians the indigenous people you know have been subjected to

three hundred years of subjugation they are creating their own cryptocurrency we need to start calling hoop jokes scotland we need to coordinate all jokes jokes a kind of informal way of calling scott how do you tell that j o c k j o c k i realize that means a different thing to an america jock while the dark is on the lord's men or it's also a cop that you wear when you're playing sport of cup to make sure your legs were in the family jewels and they may be in the interests of the broader market we won't call it your corn in that case but i can see. given the talent there they could under the radar of the government under the radar the u.k. simply create a crypto currency right now where somebody entrepreneur who should do nobody could stop them and if some if people start using it then they've got their independence no matter what alex semin the bureaucrat says absolutely else and once you're free of money once you've got your money free of the state the state is toast well it's a good point because as the rothschild baron von rothschild you're going back a hundred two hundred years and if you control the money you control the people

centrally and it's going you can flip that around and say for the people if we control our money then the stake and whether and die we don't care absolutely now what about the block chain itself because a crypto currency of course is more than a means of exchange it's more than a currency it's an actual public ledger system you know where your new book which you're working on now i'm sure will go into detail on this but it gives a way for a state or a society to administer the functions that are normally taken up by bureaucrats like alex simon could be dis intermediated young is one of these phrases that is popular amongst the high tech community and huge cost efficiencies because all those contracts contract law property law it's all on this very visible block you've got the a theory in project which is a new kind of colored coin project where you're assigning valuations to individual coins again huge benefit for scholarly another we're just not it's not a it's not a problem and they've been under the rule of the corrupt city of london for all these ta all this time it's an opportunity it's the open sea not just of

a generation but of a century or more and if they don't please take it because there hasn't are intersecting with cryptocurrency which is this real confluence of factors of the tides who the tail winds behind them how do we get these jocks to wake up to this we have to go up there to edinburgh haven't suttles go and shout look we don't have an open forum i think so don't let someone know it for a second because no way of course you compare that with the. and the oil wealth because you mentioned that the part of the equation the triple play of scotland is the oil the the other two things you mention which i've already forgot size regulatory actions a size zero oil regulatory has no weight has these the size and the oil the regulatory options bit dicey very large states you know right now they have managed to put together a sovereign wealth fund one of the biggest in the world hundreds and hundreds of billions and of course they public benefits from this and we're each norwegian

a millionaire i think so now in the u.k. which you also had access to the north sea oil going back to the factory or they took that money instead of putting into a sovereign wealth fund that created the most and one of the most indebted states of the past fifty years all the debt inclusive in the u.k. it's ten times g.d.p. there's no stop so instead of having a million dollars per population per capita here in the u.k. it's more like fifty thousand pounds of debt i don't think per worker person forty thousand pounds per person so scotland should say you know what we don't want the bank of our debts made we don't want to keep your debts made we want the jock script a current single totally independent all right so this new book which is all about the mag i want to understand it and i'm saying no i just passed a bit coin as last year or so tara thirteen max going to twenty fourteen when it does it bring up the current charts i think it's got a it's a hit fifty million dollars and valuation promise you will get a very good plug in the book and if not i mean it's part of the growing evolution

of cryptocurrency s. all right so we've got about twenty seconds left dominic take it away the twenty seconds ago he only got it so i'm writing this book because it is hopefully the first book by recognise publisher scoop in the future of money on crowdfunding it if you want more information go to my website dominic frisby don't comb or type in unbound which is the publishing company free speech bit coin and you will fall. slash max crime all right thanks for being on the kaiser report thank you very much max has been my pleasure and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i like to thank our guest dominic frisby resident gold bug at money week and bitcoin max going genius author of life after the state if you like to get in touch tween a surprise reports like. this

or see you when you're in the arctic you have to entire world at your feet. she looks like a fairly simple shit but really she's no symbol. and full of people have access to the nuclear icebreakers the real king here is the polar bear and ice breakers come second not a single complex expedition to the arctic can be conducted with the russian nuclear powered fleet of ice breakers we've undertaken a unique operation in. the northern sea route russia's arctic ice breakers. there is obviously more for the ladies because it's pink. women wanted to avoid rape they really need to buy guns environ how to use them. this is the one that i want to go

away from once again it's the field for women definitely a target of the gun lobby and you don't kill them when you kill anybody but if somebody would you would describe her. i'm noticing more and more and that's really scary marketing tactics which implies that women have some sort of moral obligation to protect their family and young girls shoot out here too so we do have a pink or. more kids young kids choke on food than are killed by firearms if being armed made us safer in america we should be the safest nation on earth were clearly not the safest.

birthday or. the location of a boy still remembered. how to do it well there's of the ten thousand said you would stop this storm we might be more my people will die. twenty fourteen promises we call timid and exhilarated winter sports on our team a team you still need and use now a m a kevin zero in on the rest of our lives take news team for sochi twenty four take. on.

held for syria russia's foreign minister hits out of the u.n. resolution on humanitarian aid saying the issue is being hijacked to do rael the peace talks that's while the turmoil in the country sounds short waves into neighboring lebanon helping al qaeda against. and your interview. with. shocking revelations as also you visit so runs a stronghold where jihad is finances entree into a bottle the assad government in syria. also thousands of web signs join forces for a day of global action against musgrave in the remember the legacy of one leading into that our own smoltz who's fighting for online freedom under the tragedy.